Corporate News     05-Jun-20
Railway Energy Management Company to manage 3GW solar power plant for India Railways
Rites' subsidiary Railway Energy Management Company (REMCL) has secured its largest mandate from Indian Railways for handling tendering, installation supervision and managing power supply from 3 GW solar power plants to be set-up on vacant Indian Railway Land. The project will be divided into 3 phases of 1 GW each. First and third phase of 1 GW each will be on PPP basis under Design, Build, Finance, Operate and Transfer model. Second phase of the project (1 GW) will be on ownership model of REMCL, which will be eligible for capital subsidy under CPSE investment scheme. The Railways have already identified suitable land to be leased to REMCL on nominal lease rent.

Besides Bid management fee in the beginning, REMCL would earn long term revenue through supply management from these installations which may amount to approximately Rs. 20 crore per year to REMCL during life of the project. Entire installation is expected to be completed by 2022-23.

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